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North Stonington Board of Finance
Approved Meeting Minutes
Wednesday, May 18, 2011
NEW TOWN HALL
40 Main Street, North Stonington, CT
- Call to Order: Chairman M. Donahue called the Board of Finance (BOF) meeting to order at 7:38 P.M. Chairman M. Donahue, Vice Chairman D. Spring, P. Nimirowski, E. Pavlovics, and M. Ratib were present. E. Bresette was absent.
- Public Comments and Questions: There were no public comments and/or questions.
- Board of Education (BOE) Financial Report: The BOE Financial Report was not available for review.
- Board of Selectmen:
- Additional 2011-12 Budget Input: First Selectman N. Mullane briefed the BOF on a request by the Wheeler Library for $25,000.00 to be used in repairing the Library roof. Mr. Mullane requested that the money be placed in Schedule C – Capital Expenditures, under CC 3 Selectmen.
- Mr. Mullane also briefed the BOF on transfer requests from the North Stonington Volunteer Fire Co., Inc. (NSVFC). These transfers will not result in any additional appropriations in this year’s budget. The BOF agreed to take up these transfer requests at the next scheduled meeting.
- Board of Finance Strategy, 2011-12 Budget:
- The BOF reviewed Schedule D, Redemption of Debt, for accuracy and determined their Schedule D estimates matched the BOS estimates for all items excluding the School Building Project. These items include the NSVFC Truck, the Seaport/Hewitt Property, Highway Trucks, and the School Boiler Repair Project.
- The BOF informed Mr. Mullane that $200,000.00 for the Town Green Bridge repair is included in the 2011-12 Draft Budget in Schedule C under CC 3, Selectman. The revenue for 75% of this expenditure (the FEMA reimbursement) is accounted for in Schedule A under A 3, Intergovernmental Revenues FEMA. The $200,000.00 will be placed in CNR pending Budget approval as noted in the Draft 2011-12 Budget Notes.
- Mr. Mullane briefed the BOF on the various options for obtaining a Street Sweeper for Town use. These options include:
- $215,000.00 to buy the Sweeper outright.
- A $103,000.00 initial payment for a lease to buy option with two additional payments of $58,957.00.
- Approximately $9,200.00 to rent a Sweeper for 30 Days
- D. Spring moved to have the Town rent a Street Sweeper by placing $35,000.00 in Schedule B, BB 27.13, Contractual Services - Highway. P. Nimirowski seconded the motion which passed on a vote of 4-1-0 with E. Pavlovics voting no.
- The BOF finished their 2011-12 Draft Budget review by discussing revenue and reviewing estimated cash flow summaries for the 2011-12 Budget cycle.
- M. Donahue moved to release Revision A of the Draft 2011-12 Budget, dated May 18, 2011 to the Budget Hearing being held on May 23, 2011. Revision A reflects a proposed budget of $18,009,129.00 and a 0.1 Mil Rate increase. D. Spring seconded the motion which passed on a vote of 4-1-0 with E. Pavlovics voting no.
- Previous Minutes: The BOF reviewed the Regular Meeting minutes of May 11, 2011. D. Spring moved to approve the minutes as written. P. Nimirowski seconded and the motion carried on a vote of 5-0-0.
- Correspondence:
- Letter from the Board of Selectmen (BOS) dated May 18, 2011 that outlines transfer requests by the NSVFC.
- Letter from the BOS dated May 18, 2011 that outlines a request to add $25,000.00 to the 2011-12 Budget for roof repairs to the Wheeler Library.
- Future Agenda Items Identification:
- The BOF will take up the NSVFC transfer requests.
- Based on input from the public at the Budget Hearing held on May 23, 2011, the BOF will work to finalize the Draft 2011-12 Budget for recommendation to a Town Meeting.
- Adjournment: P. Nimirowski motioned to adjourn the BOF meeting at 11:08 P.M. D. Spring seconded and the motion carried on a vote of 5-0-0.
Respectfully Submitted,
Mark S. Donahue Approved: 5-25-11
Chairman, Board of Finance
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